Delt,
Heres the DD you said I havent done. Just cause I didn't post it at Allstocks, doesnt mean I havent done anything.----------
Here is another good stock to watch. As you can see from the charts, this one has a fairly predictable pattern. Right now its trading around its usual low, and has had a lot of strong support at this price.
In my opinion, this is a good long-term hold. You can definately buy in and get out at one of the usual uptrends, but after doing a lot of DD, I like this for a long hold. The company has a steady flow of contracts, impressive client list, moves well on PR if you're looking for a swing trade. Overall I really like this company, and will be holding for awhile.
So without further ado...here is the DD! But go a bit further and do your own like always, this is just a brief snapshot of the good stuff.
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Company Information
Thinkpath Inc
201 Westcreek Boulevard
Brampton L6T 5S6, ON
Phone: (905) 460-3040
Fax: (905) 460-3050
Email: communications@thinkpath.com
http://www.thinkpath.com/
"Thinkpath is a global provider of engineering services, design, build, drafting, technical publishing & documentation and on-site engineering support. Thinkpath enables corporations to reinvent themselves structurally; drive strategies of innovation, speed to market, globalization and focus in new and bold ways. We are experts in the aerospace, automotive, defense, manufacturing and health care industries." Quoted from the Thinkpath.com homepage.
Client list: ( http://www.thinkpath.com/eng_client_port.html )
Lockheed Martin, General Dynamics, General Electric, General Motors, Boeing, Cummins Engine, ESI Fiscal, Ford Motor Co., Allison Transmission, Driltech, Copeland Corporation, Komatsu, GE Elano, ABB, Magna
Investors information: http://www.thinkpath.com/ab_investors.html
Investors FAQ: http://www.thinkpath.com/pdf/FAQSheetSep26.pdf
Request a Investors Relations Package
Contains: Annual Report, Recent Financial Statements, Recent PRs, General company Info http://thth.smartsimple.com/s_signup.jsp?token=XVtQC1oGbVxeQw9bQhI%3D
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Recent Company News
Feb 3rd -- Thinkpath Announces New Contracts Worth $.5 million http://biz.yahoo.com/pz/040203/51910.html
Jan 21st -- Thinkpath Announces New Contract Worth $2 million http://biz.yahoo.com/pz/040121/51187.html
Jan 8th -- Thinkpath Continues to Target the Defense Industry by Announcing an Advanced Authorization Letter Worth Approximately $2.6M US http://biz.yahoo.com/pz/040108/50575.html
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Income Statement: http://finance.yahoo.com/q/is?s=ththf.ob
3rd Quarter Financial Results - Press Release: http://biz.yahoo.com/pz/031112/48129.html
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The income statement shows that the company is a bit in the red, but most OTC stocks are from what I've experienced. Despite this fact, I still believe this company has good things ahead. Just look at the most recent contracts.
October 2003 - Best Sales Revenue in 15 Months -- $1.5 Million http://biz.yahoo.com/pz/031113/48148.html
January 8th, 2004 - Letter of Intent worth $2.6 million http://biz.yahoo.com/pz/040108/50575.html
January 21st, 2004 - Contract Announced $2 million http://biz.yahoo.com/pz/040121/51187.html
February 3rd, 2004 - New Contract $500,000 http://biz.yahoo.com/pz/040203/51910.html
These are the most recent PRs regarding contracts. For examples sake, lets assume the Letter of Intent from Jan 8th falls through. Even without that, I'm counting $4 million in new contracts. If that signed letter of intent is successful, we're up to $6.6 million.
From what I can tell, the current debt is being worked off through some restructuring that occurred last year. In July, Thinkpath sold off its Information Technologies division to Treklogic(TKI.CDNX) ( http://www.thinkpath.com/pdf/Jul803pressrelease.pdf ). This was done to acquire extra cash, and make future use of cheaper IT outsourcing. Then in August, Thinkpath reduced the number of offices to further reduce company costs (http://www.thinkpath.com/pdf/Aug2003pressrelease.pdf )
So considering the restructuring to reduce debt and the steady flow of contracts (for pretty hefty sums), I have faith in this company. Like I said in my first post, I still feel this is more of a long term company. But like any stock, a swing trade could be possible if played at the right time.